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Which of the following terms describes a situation in which a single corporation lacks competition and controls the market for a certain product?
monopoly
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Which of the following describes a situation in which government spending exceeds its revenue?
budget deficit
What if the following describes a situation in which there would be a decreasing marginal utility?
Buying a second winter coat.
Which of the following describes a situation where the goal of security is being pursued?
The government establishes a retirement program for its citizens.
Which describes a situation where competition between producers exist?
two or more producers are trying to sell the same good or service to the same consumers
Which of the following describes a situation in which a president negotiates a deal directly between the executive branch and a foreign government?
an executive agreement
Describe the four stages of the competition model?
4 stages of competition: 1: Objective competition situation 2: Subjective competition situation 3: Response 4: Consequence
Which of the following accurately describes the effect of a situation of scarcity?
Theres a shortage of oil, pushing car companies into researching alternative fuels
Which of the following terms describes a situation in which the issues that divide the political parties change in a way that cuts across existing political coalitions?
a realignment
Which of the following describes a situation in which a president uses the media attention given to the president's office to build support for policy proposals?
going public
Which of the following accuratly describes a situation in which consumers have elastic demand?
People give up eating pasta and bread because they want to lose weight
What is the adjective of apply?
The adjective form of "apply" is "applicable." It describes something that is relevant or appropriate to a particular situation or context. For example, one might say, "The rules are applicable to all participants in the competition."
Which of the following describes a situation in which legislators pay close attention to a bureaucracy with consistent fact-finding trips, interviews, audits, and calls?
police patrol oversight
